Freed, a provider of AI-powered clinical documentation solutions, has secured $30 million in Series A funding led by Sequoia Capital. The investment brings the company's total funding to $34 million and establishes it as one of the fastest-growing health tech companies in the United States.
The funding comes at a critical time when clinician burnout continues to plague healthcare. With healthcare providers spending an average of 19 hours weekly on paperwork and administrative tasks, Freed's AI platform directly addresses this burden by automating documentation and streamlining clinical workflows.
At the core of Freed's offering is an AI scribe that captures and transcribes patient encounters, generating comprehensive medical notes in real-time. This technology reportedly saves clinicians an average of two hours daily, allowing them to redirect their attention to patient care rather than paperwork.
The company is now expanding its AI capabilities beyond basic note-taking with several new features. These include specialty-specific notes tailored for different clinical disciplines, a custom template builder that adapts to individual clinician preferences, pre-charting with AI-generated patient summaries to prepare for visits, and seamless EHR integration through a browser extension.
"Freed was built as a love letter to clinicians—starting with my wife, a family physician," said Erez Druk, Freed's Co-Founder and CEO. "My wife and her fellow clinicians dedicate their careers to caring for others, and they deserve to have a company that dedicates itself to caring for them. They deserve to live balanced lives that allow them to recharge."
Since launching in 2023, Freed has demonstrated significant market traction with over 17,000 paying customers across 96 medical specialties. The company attributes this rapid adoption to its direct-to-clinician business model, which has facilitated widespread implementation.
The financial performance reflects this growth trajectory, with the company reporting a fourfold increase in year-over-year revenue. Perhaps most notably, Freed claims to have saved clinicians more than 2.5 million cumulative hours of documentation time—a metric that resonates strongly with its mission to combat burnout.
With this new funding, Freed appears positioned to further develop its AI capabilities and expand its market presence in the clinical documentation space, potentially addressing one of healthcare's most persistent challenges: allowing clinicians to spend more time with patients and less time on paperwork.
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